10 Small-Scale Business Ideas Under ₹2 Lakhs

Within India, you would have observed businesses growing and flourishing at a stupendous rate. Today, so many unconventional business ideas and strategies are being applied across all verticals that would have been impossible just a few years ago.

The fact is that small-scale businesses contribute significantly to the nation's economy and offer excellent employment benefits. This blog provides a list of the 10 best ideas for businesses you can start for under ₹2 lakhs.

10 Business Ideas Under ₹2 Lakhs

Most people dream of starting their own business, but they wonder if ₹2 lakhs will be sufficient for the business and if there are profitable businesses to start within the same amount. You must understand that nowadays, ₹2 lakh is a sufficient investment to work on profitable and successful business ideas. Read on to know more.

1. Repair Workshops

   Setting up repair shops has multiple advantages. It is one of the easiest ways to start a business and earn additional income. One can set up a mid-level repair shop for under ₹2 lakhs.

   However, ensure that you or your employees are qualified to repair the products you claim to repair before setting up your repair shop. Once you begin with a few electronic devices, you can slowly increase the number of products to repair.

2. Affiliate Marketing Program

   Affiliate programs are excellent and profitable small-scale business opportunities that one can consider starting under a budget of ₹2 lakhs. With this program, one can earn money via social networking.

   All one needs to do is promote a specific product or service, basis which you get a commission once you start successfully getting customers. Indeed, a personal loan for business is the best option if you do not have the amount ready for the business. Personal loans also help with tax benefits.

3. Graphic Design Services

   If you have some graphic design expertise, design services are an excellent way to earn money with minimal investments in India. While earning some money, you also get to improve your skills and do something you are passionate about.

   There are various freelancing sites, such as Upwork, Fiverr, Freelancer, and so on, where you can offer your design services. However, ensure that you have compiled a portfolio of your earlier work so that potential clients can see your work basis, which they will offer projects.

4. Organic Farming Business

   This is one of India's best and most in-demand business ideas. You can start this business easily and help others live a healthy life as well with the output. Organic farming is an excellent way to cater to this sector.

   Even though it is better to take up organic farming within large land areas, one can also start organic farming in urban areas with urban farming. KreditBee is an excellent choice if you are looking to apply for personal loans.

5. Stationery Stores

   A stationery store is one of the best business ideas for someone trying to start a business within ₹2 lakhs. Do note that the break-even time frame for a stationery shop is close to one to two years maximum.

   You can develop your collection slowly, see how your business is performing, and then make the required changes accordingly.

6. Taxi Services

   Many second-hand cars like Alto and WagonR can be purchased for well under ₹2 lakhs, and you can start a taxi service after registering these cars as commercial cars. You can rent these cars to cab service businesses such as Uber and Ola.

   With a taxi rental service, you can earn close to ₹2000 to ₹2500 per day, and during festivals, your income can easily double.

7. Bakery Stores

   Bakery stores are highly profitable small-scale businesses that can generate a good income. With the increasing demand for cakes and baked goods, starting a bakery requires minimal investment.

   If you have baking skills, you can set up a bakery with just 60 to 80 square feet of space, an oven, and baking materials. With an investment of around ₹2 lakhs, you can embark on a lucrative venture with great potential for success.

8. Catering and Event Management

   Catering and event management is another business you must consider investing in if you have the talent. Most people generally outsource services for organizing various functions and events as this helps them save a lot of time and stress.

   Also, you must understand that success will solely depend on how good the food is if you want to invest in a catering business. If you choose to invest in a catering business, then do ensure to employ an efficient team. Again one of the best business ideas under ₹2 lakhs if you are interested.

9. Start A Packers and Movers Business

   You don't need a big office to start a Packers and Movers business. All you need to do is promote or advertise online, and you will get the client who requires help while moving.

   This business can easily be started for under ₹2 lakhs as all you need is a truck, around 4 to 5 helpers to help pack and move, and the packaging material.

   Once you see that your business is taking off, you can expand and employ a permanent workforce.

10. Start a Recycling PickUp Business

    The Indian population today understands how recycling can help the environment, and you see a lot of Indians recycling their waste instead of dumping them in waste bins.

    A Recycling and Pickup business can be profitable as most people require assistance transporting their waste to recycling centers.

    All you need to invest in is a truck and a few helpers who can help with the same. If you do not want to employ permanent helpers, you can hire daily laborers, and the truck can easily be availed by opting for a personal loan.

Conclusion

The thought of repayment tenures should not be the reason to hold you back from fulfilling the dream of starting your business. Selecting from these business ideas can help you start your entrepreneurial journey. All you need to do is reach out to KreditBee to experience a seamless and hassle-free personal loan process.

With a dedicated team of experienced professionals and a user-friendly platform, KreditBee makes the whole process of applying a smooth personal experience. Moreover, with flexible and convenient repayment options, this should be your one-stop shop to secure your financial future.